London – The recent coup in Gabon was executed peacefully and appeared to be a “good coup”, with society and business operating as usual, a senior executive from the African Finance Corporation (AFC) said on Thursday. “We have significant investments in Gabon and so far the coup has been very peaceful, the thinking has been …
African Finance Corp says Gabon political situation a ‘good coup’ Read More »
JOHANNESBURG (Reuters) – South Africa’s current account deficit widened to 2.3% of gross domestic product in the second quarter from a revised 0.9% in the first quarter, central bank data showed on Thursday. In rand terms, the current account balance for the April-June period recorded a deficit of 160.7 billion rand ($8.36 billion) from a …
South Africa current account deficit widens in second quarter Read More »
JOHANNESBURG (Reuters) – Raymond Ackerman, who founded Pick n Pay from just four stores 56 years ago and turned them into one of South Africa’s leading grocery retailers, has died aged 92, the company said on Thursday. The cause of his death was not disclosed in an emailed statement. “It is with profound sadness that …
Raymond Ackerman, founder of South African grocer Pick n Pay, dies at 92 Read More »
(Reuters) – South Africa’s consumer confidence regained some composure in the third quarter, according to a survey released on Thursday, as a rebound in the economic outlook and improvement in time-to-buy durable goods increased households’ “willingness” to spend. The consumer confidence index, sponsored by the First National Bank (FNB) and compiled by the Bureau for …
South Africa’s consumer confidence recovers in third quarter- Survey Read More »
JOHANNESBURG (Reuters) -The CEO of South Africa’s biggest life insurer, Sanlam, said on Thursday the impacts of higher inflation and interest rates were likely to recede, translating into higher premium growth and new business. South African insurers, which control the largest and the most advanced insurance market in the continent, have been benefiting from higher …
S.African insurer Sanlam sees customer strain receding late 2024 Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – World stock indexes fell while the benchmark U.S. Treasury yield rose and the U.S. dollar hit its highest in six months on Wednesday after stronger-than-expected U.S. services sector data suggested inflation pressures remain. Weighing heavily on Wall Street stock indexes, shares of Apple fell 3.6% after the Wall …
Stocks fall, dollar and yields up after US services data Read More »
By Laura Sanicola NEW YORK (Reuters) -Oil prices settled higher on Wednesday, reversing early declines as traders anticipated further draws on U.S. crude oil inventory following extended production cuts in Saudi Arabia and Russia. Brent crude futures settled up 56 cents to $90.60 a barrel while U.S. West Texas Intermediate crude (WTI) futures settled up …
Oil settles up on expectations of U.S. crude draws and tight supply Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar climbed to a six-month peak on Wednesday, reversing earlier losses, after U.S. data showed the services sector surprisingly picked up steam last month amid a rise in new orders and businesses paying higher prices, suggesting persistent inflation pressure. The greenback recovered against most currencies after the …
Dollar rises to six-month high after US data; weak yen prompts warning Read More »
DAKAR (Reuters) -West Africa’s Central Bank, BCEAO, hiked its main lending rate on Wednesday in the wake of another military coup that has rocked the region and caused trade blocks between countries. In Niger, the central bank’s member state, a military junta seized power on July 26 in the seventh military takeover since 2020 in …
West Africa Central Bank raises rate following Niger coup Read More »
By Nidhi Verma and Felix Onuah NEW DELHI (Reuters) – Nigeria has secured nearly $14 billion of pledges from Indian investors and seeks an economic cooperation pact with the South Asian nation, a presidential spokesperson said on Wednesday. India’s Jindal Steel and Power has committed to pump $3 billion into Nigeria’s steel sector and Indorama …
Nigeria gets $14 billion investment pledges from India, seeks economic pact Read More »
